Higher interest rates are no bad thing, but the European Arrest Warrant most certainly is

Did Mark Carney give us a beating by raising interest rates? Of course not Credit:
Stefan Rousseau/PA

The funniest response to the 0.25 percentage point rise in interest rates came from James McGrory, who has transitioned from the Remain campaign to its successor organisation, Open Britain. “The Brexit squeeze is real and it’s happening now,” he told Twitter. “These are people’s mortgages (including mine) taking a beating!”

Seriously? “Taking a beating”? Interest rates have risen from a quarter of 1 per cent to a half, a nugatory rate by any standard. To put it another way, they have returned to where they were on the day of the referendum, before Mark Carney’s ill-judged decision to cut further in anticipation of an immediate Brexit shock that didn’t come.